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Durango Mountain Bike Tours ending cash balance as of December 31, 2022 was $10,000. Its expected cash collections and payments for the next six months are given in the following table.

If the firm must pay 5% annual interest on its short-term borrowing, what are the ending cash balances for each month?

Durango Mountain Bike Tours' ending cash balance as of December 31,2022 was $10,000. Its expected cash collections and payments for the next six months are given in the following table. c) Durango Mountain Bike Tours Forecasted Ending Cash Balance January 2023 to June 2023 \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline & December & January & February & March & April & May & June \\ \hline \multicolumn{8}{|l|}{ Beginning Cash } \\ \hline \multicolumn{8}{|l|}{ Add: Collections } \\ \hline \multicolumn{8}{|c|}{ Less: Short-term Interest } \\ \hline \multicolumn{8}{|l|}{ Less: Payments } \\ \hline \multicolumn{8}{|c|}{ Unadjusted Cash Balance } \\ \hline \multicolumn{8}{|l|}{ Add: Borrowing } \\ \hline Ending Cash Balance & \multicolumn{7}{|l|}{10,000} \\ \hline \multicolumn{8}{|l|}{ Cumulative Borrowing } \\ \hline & & & & & & & \\ \hline Minimum Cash & 12,000 & & & & & & \\ \hline Annual Interest Rate & 5% & & & & & & \\ \hline Monthly Interest Rate & 0.42% & & & & & & \\ \hline \end{tabular}

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